Self Storage Properties in Georgia and Shopping Center in Texas Receive $11.65 Million Loan

SARASOTA, FL, Oct. 5, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $11,650,000 for Washington Road Self Storage #1 and #3, Evans Self Storage #1 and #2, and the New Caney Shopping Center.

Brad Cox (top right photo), CCIM, CPM, Company Vice President, secured financing for Washington Road Self Storage #1 through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $3,000,000. 

The full-recourse, fixed-rate loan has a term of seven years, based on a 25-year amortization and an interest rate of 6.50%.  The loan-to-value is 70%.  The 77,148 square-foot self-storage facility was built between the years 1994-1997, and is located at 122 Davis Road, Martinez, Georgia.

 Cox secured financing for Washington Road Self Storage #3 through The Standard Life Insurance Company in the amount of $2,700,000.

 The full-recourse, fixed-rate loan has a term of seven years, based on a 25-year amortization and an interest rate of 6.50%.  The loan-to-value is 60%.  The 104,346 square-foot self-storage facility was built in 2000, and is located at 3700 Washington Road, Martinez, Georgia.

Cox also secured financing for Evans Road Self Storage #1 and #2 through The Standard Life Insurance Company in the amount of $3,600,000. 

 The full-recourse, fixed-rate loan has a term of seven years, based on a 25-year amortization and an interest rate of 6.50%.  The loan-to-value is 56%.

 The 120,479 square-foot self-storage facility was built between the years 1996 and 2008, and is located at 4731 Washington Road and 852 Blanchard Road, Evans, Georgia.

Lastly, Cox arranged financing for the New Caney Shopping Center through The Standard Life Insurance Company in the amount of $2,350,000.

 The full-recourse, fixed-rate loan has a term of five years, based on a 25-yer amortization and an interest rate of 6.0%.  The loan-to-value is 63%.

  The 55,944 square-foot retail center was built in 1982, and is home to major tenant Brookshire Brothers.  New Caney Shopping Center is located at 20185 US Highway 59, New Caney, Texas.

Contact:

Brad Cox, CCIM, CPM  (941) 552-9731,  bcox@tdwood.com

Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com